The International Monetary Fund has expressed concerns that currency movements pose great challenges to developing countries’ domestic economy, especially trade.
The concerns is to the challenges of the Nigerian economy, where trade invoices are benchmarked against the dollar, just as the Naira continues to lose value at the parallel market.
Read Also
- Drop In Inflation report: A positive signal of Gov Monday Okpebholo's tailored policies - Paul Ezenwa
- CIBN Holds 17th Annual Conference, Focuses on Economic Progress
- Bill Gates advocates improved agricultural productivity to reduce malnutrition in Nigeria
- We Did Not Warn Nigerians Against Bread Consumption - NAFDAC
At N472 to $1, the IMF noted that the weakening of other countries’ currencies vis-à-vis the US dollar leads to higher domestic currency prices of their imports, including from countries other than the U.S.
